An ominous new report prepared by the Ministry of Finance (MoF) on President Putin’s order yesterday to accelerate the opening of the St. Petersburg Exchange (SPE), where prices for Russian oil and natural gas will be set in rubles instead of US dollars, is warning that this “catastrophic blow” to the petrodollar amounts to nothing less than “all-out war” against the West and that an “Armageddon response” from the Obama regime should be expected to swiftly follow.

Sechin, as one of the most influential leaders of the global energy trading community now has the perfect instrument to make this plan a reality with the SPE where reference prices for Russian oil and natural gas will be set in rubles instead of US dollars and could literally destroy the petrodollar.

The use of this “Financial Nuclear Weapon” (the sale of oil in a currency other than the US dollar) which was previously deployed by Saddam Hussein, this report continues, resulted in the total destruction of Iraq, but it failed to deter other countries angry with the highhandedness of the US.

Libya made another attempt and it resulted in the destruction of the country and the brutal murder of its leader Muammar Gaddafi.

Next was Iran. The US and the global financial war party found it much more difficult to isolate and annihilate Iran, even when it was threatened with outright nuclear attack by US and Israel. And in spite of unprecedented sanctions against Iran (which constitute economic warfare and are war crimes in itself), Iran stood defiant.

The leading members of BRICS (Brazil, Russia, India, China and South Africa) Russia and China restrained themselves so as to preserve global stability.

However, the war party faction of the Obama regime (the leftovers of the Bush regime) took such restraint as weakness and went on a spree of regime change throughout the world to undermine the growing strength of BRICS.

The “straw that broke the camels’ back” was the unbridled and reckless coup against the elected President of Ukraine by US and NATO and orchestrated by the US State Department and led by the war-monger Victoria Nuland, who openly admitted that the US had disbursed through such organizations as the National Endowment for Democracy (NED) over $5 Billion to facilitate the coup.

Critical to understand about the current Ukrainian Crisis, this report says, is that it has “absolutely nothing” at all to do with either Ukraine or its people, but should be understood for what it really is… a “sledgehammer” the Obama regime is attempting to use against Russia to prevent the opening and expansion of the SPE.

By perpetually expanding the US money supply, it’s important to note, America’s standard of living for its elite classes increases as well. The only problem with this situation is that the only way that it can be sustained is if the demand for the dollar and for US debt securities remains consistently strong.

Grasping this last point is extremely important. For if the artificial global US dollar demand, made possible by the petrodollar system, were ever to crumble, foreign nations who had formerly found it beneficial to hold US dollars would suddenly find that they no longer needed the massive amounts that they were holding.

This massive amount of dollars, which would no longer be useful to foreign nations, would come rushing back to their place of origin… America.

Obviously, an influx of dollars into the American economy would lead to massive inflationary pressures within their economic system and collapse it, along with that of the EU too.

It is difficult to overstate the importance of this concept as the entire American monetary system literally hinges on this “dollars for oil” system. Without it, Washington would lose its permission slip to print excessive numbers of dollars.

Even worse for these “Obama Pawns”, wages now in Ukraine are, as a rule, not enough to feed a family, and the devaluation of their currency will make it totally impossible for these people to absorb these costs.